Novartis AG, CH0012005267

Novartis stock gains as radioligand growth and fresh analyst targets shape outlook

Published on 09/16/2026 at 14:16 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Novartis stock on the SIX Swiss Exchange traded higher on September 16, 2026, while analysts at Deutsche Bank and RBC Capital reiterated Hold ratings with a CHF 120 price target. Pluvicto sales of USD 1.3 billion in the first half of 2026, up 57% year over year, highlight the company’s radioligand momentum.

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Novartis AG (ISIN CH0012005267) stock traded higher on the SIX Swiss Exchange around midday on September 16, 2026, with the shares up about 1.2% at 115.24 Swiss francs, supported by solid radioligand therapy growth and fresh analyst commentary that centers on a CHF 120.00 price target.

Radioligand therapies drive revenue growth

Radioligand oncology has become a key growth engine for Novartis, and recent figures underline that trend. According to Zacks, the company’s prostate-cancer radioligand drug Pluvicto generated USD 1.3 billion in sales in the first half of 2026, representing a 57% year-over-year increase and underscoring how quickly demand is scaling in this segment.

The same analysis notes that the US Food and Drug Administration in July 2026 expanded Pluvicto’s label to include PSMA-positive metastatic androgen pathway modulation-naive or -sensitive prostate cancer in combination with an androgen receptor pathway inhibitor, materially broadening the eligible patient population and supporting further growth in the second half of 2026 and beyond, according to Zacks.

For investors, the combination of a 57% year-over-year jump in Pluvicto revenue to USD 1.3 billion and a broadened label in July 2026 means radioligand therapies now play a more central role in Novartis’ growth narrative than in prior years, offering a concrete counterweight to generic competition in other parts of the portfolio.

Generic competition and pipeline balance the story

The competitive landscape around Novartis’ radioligand franchise is evolving. On September 15, 2026, the US FDA approved Cirium’s generic version of Lutetium Lu 177 dotatate under the brand name Bexlutry, introducing the first generic alternative to Novartis’ Lutathera, according to GuruFocus. This development adds pricing and share-pressure risk to one of Novartis’ established radioligand products.

Despite the new generic, Novartis is working to maintain and extend its radioligand lead. The company is advancing next-generation candidate AAA817 (225Ac-PSMA-617) in a phase II/III study as a monotherapy for PSMA-positive metastatic castration-resistant prostate cancer, including patients whose disease has progressed after prior lutetium-based PSMA-targeted therapy, as highlighted by Zacks. This pipeline breadth provides a strategic response to the generic challenge and underpins medium-term growth expectations in oncology.

From a risk perspective, the arrival of Bexlutry as a generic to Lutathera on September 15, 2026, introduces potential margin pressure in that specific therapy, yet the 57% year-over-year growth in Pluvicto sales in the first half of 2026 suggests that Novartis’ broader radioligand platform retains momentum and may offset some of the impact over time, according to GuruFocus and Zacks.

Analyst targets cluster around CHF 120

Analyst commentary in mid-September 2026 provides another lens on Novartis stock. In a report released on September 16, 2026, Deutsche Bank’s Emmanuel Papadakis maintained a Hold rating on Novartis AG with a price target of CHF 120.00, according to The Globe and Mail. The report notes that this Hold stance comes alongside ongoing growth in key franchises.

RBC Capital is broadly aligned with this view. In a separate update reported on September 16, 2026, Trung Huynh at RBC Capital also reiterated a Hold rating on Novartis AG with a CHF 120.00 price target, as The Globe and Mail reports.

In addition, Citi maintained a Buy rating on Novartis AG in a report dated September 9, 2026, also with a focus on the Swiss listing, according to The Globe and Mail. With Deutsche Bank and RBC both at Hold and Citi at Buy, the consensus picture suggests that, at around the CHF 115 level on September 16, 2026, Novartis stock trades moderately below the CHF 120.00 target that several houses currently see as fair value for the Swiss line.

Dividend and valuation context for Novartis stock

Income-oriented investors also pay close attention to Novartis’ dividend profile. According to a valuation overview published on September 15, 2026, the company offers a dividend yield of 3.41% with a payout ratio of 71%, supported by modest dividend growth of 0.4% over three years, indicating a relatively sustainable and steady income stream, as GuruFocus details.

The same analysis places Novartis’ GF Value, a proprietary intrinsic value estimate, at USD 130.71 versus a contemporaneous NYSE price of USD 138.62 for the NVS ticker, implying the stock was about 6.1% above that intrinsic value assessment on that basis, according to GuruFocus. This comparison suggests that, while Novartis stock is not seen as deeply undervalued in that framework, its modest premium is balanced by a solid dividend profile and radioligand growth prospects.

For retail investors, the 3.41% yield paired with 57% year-over-year Pluvicto revenue growth in the first half of 2026 provides a combination of cash return and growth exposure that is relatively rare among large-cap European pharmaceutical names, though they must weigh this against competitive risks such as the new generic entrant Bexlutry to Lutathera approved on September 15, 2026.

Stock price on SIX Swiss Exchange

Novartis stock’s primary listing is on the SIX Swiss Exchange under the ticker NOVN, and recent price data reflect the market’s mixed view of valuation and growth. Around 12:28 p.m. local time on September 16, 2026, the shares were trading at 115.24 Swiss francs, up roughly 1.2% from the session’s opening level of 113.52 Swiss francs and marking the intraday high at that point, according to a real-time price snapshot for the Swiss line. As of the previous completed session on September 15, 2026, the stock closed on its Swiss listing at a modestly lower level in Swiss francs after a tight trading range, with the broader Swiss Market Index at 13,872.37 points around midday on September 16, 2026.